Page 148 - CW E-Magazine (21-11-2023)

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GROWTH PROJECTIONS
100% subsidiary of Agrocel Industries Pvt. Ltd.
Chemplast Sanmar bullish on custom manufacturing AGROCEL
INDUSTRIES PVT LTD
business prospects
India’s leading manufacturer of Bromine offers
Chemplast Sanmar Ltd. has said its pany sees strong visibility with respect to Q2 performance
custom-manufactured chemical business capacity utilisation of the new produc- Meanwhile, the company’s perfor-
is expected to record strong growth of tion block and is on track to achieve mance in Q2 of this fi scal was relatively Bromine, HBr, CaBr , NaBr
20-25% in this fi scal, even as the com- Rs. 1,000-crore revenues from this busi- better than the preceding quarter.
pany expects some headwinds in other ness in the next 3-4 years. While the top line was fl at, EBITDA 2
businesses in the near term. was back in the black.
Phase 1 of the new multi-purpose n-Propyl Bromide
“Despite global cues of weakness production block for the Custom Manu- Mr. Shankar said the recovery
in the end markets, the enquiries from factured Chemicals business at Berigai, in the PVC business will be gradual
potential customers of our custom manufac- Tamil Nadu, which was inaugurated in over the next two or three quarters. Iso Propyl Bromide
tured chemicals division remain robust. Q2 of this fi scal has been commissioned Imports of both suspension and paste
To effectively address the growing and Phase 2 of the project is expected to PVC witnessed an increasing trend
demand, we continue to enhance our be commissioned by the end of this fi scal. towards the end of Q2, with a surge Phosphorus Tribromide
capabilities. Overall, this business is on from China.
track to achieve 20-25 percent growth The company has planned a capex
this year,” Mr. Ramkumar Shankar, outlay of Rs. 680-crore for these expan- The trend is continuing in this
Managing Director, said during the sions, which will increase capacity to quarter as well, which resulted in Phosphorus Oxybromide
company’s Q2FY24 earnings call. about 4,500-tpa from 1,068-tpa. some downward correction in prices in
October. “While PVC prices have started
With the recent signing of the third Deliveries of the two molecules for moving up again from the end of Ethyl-2-Bromobutyrate
Letter of Intent (LoI) with a global agro- which LOIs have been signed in the re- October, the scale of the drop in the early
chemical innovator to manufacture a new cent past will commence in the second part of October will impact our margins
pipeline active ingredient (AI), the com- half of this year. in Q3,” he added. 1-Bromo,3-Chloropropane

FINANCIAL PERFORMANCE

Tata Chemicals posts lower Q2 net profi t

Tata Chemicals has reported a 28% in container glass and fl at glass sectors,
decline in consolidated net profi t at leading to pricing pressure.
Rs. 495-crore for the second quarter
of this fi scal year. Its net profi t stood The company’s market share in key
at Rs. 685-crore in Q2FY24. The net markets have remained relatively stable
profi t includes an exceptional item of by staying close to the customers. Our
Rs. 102-crore, the company said. endeavour is to continue to maintain our
(Rs. 1,185-crore). Net profi t on a standa- market share through customer engage-
Income from operations fell to lone basis stood at Rs. 236-crore ment and have steady contribution mar-
Rs. 3,998-crore from Rs. 4,239-crore (Rs. 243-crore). gins with focus on costs and higher value-
in the same year-ago period. Earnings added products. Our focus will also Contact us for your requirements:
before interest, taxation, depreciation Commenting on the results, Mr. R. be to conserve cash and continue to Marketing Office:
and amortisation (EBITDA) were at Mukundan, Managing Director & CEO, deleverage. Looking beyond short term, B-701-702, 7th Floor, Flexcel Park, 184-87, S.V. Road, Jogeshwari (West), Mumbai - 400 102. Maharashtra, India.
Rs. 819-crore, down 11%. Tata Chemicals, said, “The demand envi- we expect the medium-term demand-sup- Tel: 022-62162800 / 26790871 w Email: info@agrocel.net w Website: www.agrocel.co.in
ronment for soda ash in domestic markets ply situation to remain balanced driven
On a standalone basis, the Q2 in India and US was stable. In other mar- by the sustainability trends especially for Works:
FY24 income stood at Rs. 1,066-crore kets, softness was observed especially applications like solar glass and lithium.” w Greater Rann of Kutch, Near Village Dhordo, Taluka Bhuj, Kutch - 370 510. Gujarat India.
w Survey No. 442-443, Near Village Avania, Ghogha Road, Bhavnagar - 364 002. Gujarat, India.

148 Chemical Weekly November 21, 2023

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